Is It Too Late to Buy American Tower (AMT) Stock?

RiverPark Advisors, LLC recently published its Q4 2020 RiverPark Large Growth Fund commentary – a copy of which can be downloaded here. During the fourth quarter of 2020, the RiverPark Large Growth Fund returned 18.66% (institutional shares), compared to the total return of 12.15% by the S&P 500 Index. You should check out RiverPark’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, the fund highlighted a few stocks and American Tower Corp (NYSE:AMT) is one of them. American Tower Corp (NYSE:AMT) is an American real estate investment trust and an owner and operator of wireless and broadcast communications infrastructure in several countries worldwide. In the last three months, American Tower Corp (NYSE:AMT) stock gained 4.9% and on March 23rd it had a closing price of $229.85. Here is what the fund said:

“AMT and EQIX shares were also top detractors this quarter despite both reporting solid quarterly results, as investors shifted away from infrastructure REITs such as towers (AMT) and datacenters (EQIX).

For AMT, rapidly rising global mobile data usage in the range of 30%-40% per year continues to drive robust capital investment within the wireless industry. 5G deployment and major carriers’ needs for high-quality networks are likely to drive double-digit capital spending growth in 2021 (and similar amounts for the foreseeable future), irrespective of carrier consolidation.”

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In February, we published an article revealing that American Tower Corp (NYSE:AMT) was one of the top 10 stock holdings of multibagger investor Chuck Akre.

In Q4 2020, the number of bullish hedge fund positions on American Tower Corp (NYSE:AMT) stock decreased by about 2% from the previous quarter (see the chart here), so a number of other hedge fund managers don’t believe in American Tower’s growth potential. Our calculations showed that American Tower Corp (NYSE:AMT) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.